on Continental AG (ETR:CON)
AUMOVIO Targets Growth and Profitability in Mobility Sector
AUMOVIO, soon to become an independent company, announced its strategic goals during Continental AG's Capital Market Day. The company aims to surpass €24 billion in sales and achieve an adjusted EBIT margin of 6.0 to 8.0 percent in the long term. AUMOVIO plans to reduce its research and development to sales ratio below 9 percent, enhancing cash flow for dividend distribution.
CEO Philipp von Hirschheydt emphasized AUMOVIO's strong market position in future mobility segments, supported by an excellent customer base. Despite market challenges, the company is set to maintain a strong balance sheet without financial debt and a cash reserve of €1.5 billion. AUMOVIO aims to enhance its product market position and operational efficiency to drive sustainable shareholder value.
R. P.
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